Singapore Savings Bond July 2023 – 2.76% to 2.82% P.A.

Rates for July 2023’s Singapore Savings Bond (SSB) remain relatively flat from last month, with the numbers barely changed. Given the undersubscription of June 2023’s SSB, the tranche is now smaller at S$600 million.

Year from issue date12345678910
Interest %2.762.762.762.762.762.762.762.953.023.02
Average return per year %*2.762.762.762.762.762.762.762.782.812.82
SBJUL23 GX23070H Bond Details

Past SSB Rates

Past SSBs

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
June 20232.81 2.81 2.81 2.81 2.81 2.81 2.81 2.81 2.81 2.81
July 20232.76 2.76 2.76 2.76 2.76 2.76 2.76 2.78 2.81 2.82
August 20232.97 2.97 2.97 2.97 2.97 2.97 2.97 2.98 2.98 2.99
September 20233.01 3.01 3.01 3.01 3.01 3.01 3.01 3.02 3.04 3.06
October 20233.05 3.05 3.05 3.05 3.05 3.05 3.06 3.09 3.13 3.16
November 20233.21 3.21 3.21 3.21 3.21 3.21 3.22 3.25 3.29 3.32
December 20233.30 3.30 3.30 3.30 3.30 3.30 3.31 3.34 3.37 3.40
January 20243.00 3.00 3.00 3.00 3.00 3.00 3.00 3.02 3.05 3.07
February 20242.72 2.72 2.72 2.72 2.72 2.72 2.72 2.75 2.78 2.81
March 20242.74 2.74 2.74 2.74 2.74 2.74 2.75 2.79 2.84 2.88
April 20242.95 2.95 2.95 2.95 2.95 2.95 2.96 2.99 3.02 3.04
See More Past SSBs

Year From Issue Date12345678910
May 20220.861.491.721.841.911.962.012.042.062.09
Jun 20221.431.922.162.302.372.432.462.492.512.53
Jul 20221.692.162.372.472.542.602.632.662.692.71
Aug 20222.002.422.632.742.822.882.922.952.973.00
Sep 20222.632.672.682.692.692.712.732.752.782.80
Oct 20222.602.602.602.622.642.662.682.702.732.75
Nov 20223.083.113.143.153.163.173.183.193.203.21
Dec 20223.263.263.273.343.393.423.443.453.463.47
Jan 20232.952.952.953.023.093.133.163.193.233.26
Feb 20232.842.842.842.842.842.842.862.902.942.97
Mar 20232.762.762.762.762.762.762.782.822.862.90
Apr 20233.013.013.013.013.013.013.033.073.123.15
May 20233.033.033.033.033.033.033.033.043.063.07

Average return per year %

Just 0.01% higher than previous month for 10-year tenure

If one were to hold this SSB for 10 years, the average return is 2.82% p.a. Incidentally this is 0.01% p.a. higher than the 2.81% p.a. rate of June’s SSB. Interesting.

June 2023’s SSB was way undersubscribed

The SSB for June 2023 proved to be very unpopular compared to other SSBs in recent memory. Less than half of the S$700 million tranche was subscribed with just S$214.7 million allotted.

Despite the lowered tranche size of S$600 million, July 2023 SSB is in all likelihood going to see similar undersubscription, which means there would be no ceiling amount aside. There is still an overall limit of S$200,000 across all SSBs that an individual owns.

Are SSBs still relevant?

Application timeline

Note that applying early does not confer you any priority in the allotment process, so it is more ideal to apply nearer to the closing date. This is because your funds are deducted from your account at the point of application, and you do not get any interest for such funds.

Opening DateClosing DateAllotmentIssuance
1st business day of month (6PM)4th last business day of the month (9PM)3rd last business day of the month (after 3PM)1st business day of the following month (end of day)
1st June 2023 (6PM)26th June 2023 (9PM)27th June 2023 (after 3PM)3rd July 2023 (by end of day)

Keep up to date on the best cashback/mile cards, financial products, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel.

Subscribe to the channel, then join the group chat. You would often benefit from the tips shared exclusively in the group chat!

Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!

Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opinion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).

Leave a Reply